Nippon Kanzai Holdings Co., Ltd.
Nippon Kanzai Holdings’ US affiliate Keystone Corporation expands into Northern California market including San Jose and Silicon Valley ……
Nippon Kanzai Holdings Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Shintaro Fukuda; hereinafter referred to as the “Company”) is involved in building management operations for office buildings and commercial facilities, housing management operations, real estate fund management, etc. Keystone Pacific Property
Management, LLC (hereinafter “Keystone”), a major residential management company in Southern California, is an unconsolidated subsidiary accounted for by the equity method, and Manor Association, Inc., a residential management company headquartered in Northern California. We would like to inform you that we have acquired the business rights of Manor Co., Ltd. (hereinafter referred to as “Manor Company”).
Purpose of acquiring goodwill
One of our medium-term growth strategies is to expand overseas through M&A and investment. Manor operates mainly in areas close to San Jose and Silicon Valley, where Keystone has been aiming to expand, and the laws, regulations, and market practices of the target areas have been As this is in line with the Southern California market in which Stone operates, we determined that it would be relatively smooth to enter the target market, leading to this acquisition. With this acquisition, Keystone will expand into the Northern California market.
Overview of Manor (as of December 31, 2023)
Trade name: Manor Association, Inc.
Head Office Address: 1820 Gateway Drive #100, San Mateo, CA 94404 USA Representative name and title: Owner Brian Campisi
Business details: Accounting, general meeting management, document preparation, etc. for single-family residential community management associations.
Sales: Approximately 8 million USD
Date of establishment: September 1973
Relationship with the Company: Keystone and the company have entered into a sales contract for housing management contracts, etc., but there is no capital relationship.
Overview of our subsidiary acquiring goodwill (as of December 31, 2023) Trade name: Keystone Pacific Property Management, LLC
Head office address: 16775 Von Karman Avenue, Suite 100, Irvine California 92606 USA
Name and title of representative: CEO (Chief Executive Officer) Cary Treff Business details: Housing management, etc.
Sales: Approximately 35 million USD
Date of establishment: October 1984
Acquisition price of goodwill
The information will not be made public after consultation with the seller. schedule
Transaction settlement date: April 30, 2024 (PST U.S. Pacific Standard Time) Regarding the impact on performance forecasts, etc.
The impact of this acquisition of goodwill on consolidated business results is minor.
About Nippon Kanzai Holdings’ overseas expansion
Our group positions M&A and investment as important factors in expanding and growing our business scale, and with regard to overseas expansion, we are actively promoting M&A and investment in housing management and related businesses in Europe, America and Oceania. I am.
In addition, we aim to improve business quality and achieve
company-wide growth by horizontally deploying and putting into practice the know-how and strengths that each company has cultivated over the years.
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About Nippon Kanzai Holdings
Nippon Kanzai Holdings is a holding company for companies involved in building management and related businesses, including building management and operation businesses such as office buildings and commercial facilities, housing management and operation businesses, environmental facility management businesses, and real estate fund management businesses. It was launched on the 3rd of the month. Our company specializes in group management functions and aims to achieve further growth of the group by formulating management strategies, optimizing management resources, and strengthening management functions.
Main group companies
Our group operates a wide range of real estate-related businesses related to the management, operation, and ownership of real estate throughout Japan and overseas. Our highly specialized group companies provide optimal solutions for a variety of real estate, including office buildings, commercial facilities, hotels, educational institutions, public facilities, and condominiums.
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Company Profile
Company name: Nippon Kanzai Holdings Co., Ltd.
Address: 2-1-10 Nihonbashi, Chuo-ku, Tokyo
Established: April 3, 2023
Representative: Shintaro Fukuda, Representative Director and President Capital: 3,000 million yen
Business details: Business management of group companies that operate office buildings, housing complexes, environmental facilities, etc., real estate fund management business, etc., and operations incidental or related thereto.
URL: https://www.nkanzaihd.co.jp/
More details about this release:
https://prtimes.jp/main/html/rd/p/000000023.000122806.html